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Writing China: Nicholas Lardy, ‘Markets Over Mao’

By

Bob Davis

Sep 2, 2014 5:50 am ET

For the past 30 years, Nicholas Lardy has chronicled the immense changes in China’s economy and revealed some of the system’s biggest flaws. In his latest book, “Markets Over Mao,” the 68-year old senior fellow at the Peterson Institute for International Economics in Washington D.C., takes on China’s state-owned enterprises.

His surprising conclusion: They don’t have nearly the breadth and power that China’s many critics say they do.